SAN JOSE, Calif. — (BUSINESS WIRE) — September 10, 2015 —
GigOptix, Inc. (NYSE MKT:GIG), a leading supplier of advanced
semiconductor communications components for use in Cloud connectivity,
data centers, and high-speed optical and wireless networks, today
announced that the underwriters in the previously announced public
offering, pursuant to the terms of an underwriting agreement, exercised
in full their previously announced option to purchase 1,425,000 newly
issued shares of common stock at a price to the public of $1.70 per
share to cover over-allotments and that the issuance and sale of such
shares closed on September 10, 2015. The net proceeds to the Company
from the offering were approximately $2.28 million after underwriting
discounts and commissions.

As previously announced, the Company expects to use the net proceeds
from the offering of the shares which it is selling for potential
acquisitions for strategic growth, including the acquisition of critical
technologies and scalable businesses. The focus will be on multiple
attractive global targets, including entities that the company has been
tracking for the last couple of years.

Cowen and Company, LLC and Roth Capital Partners acted as joint
book-running managers for the offering. Craig-Hallum Capital Group LLC
acted as co-manager for the offering.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction. Copies of the final prospectus supplement
and accompanying base prospectus and reoffer prospectus relating to this
offering may be obtained from Roth Capital Partners 888 San Clemente,
Suite 400, Newport Beach, CA 92660, (800) 678-9147, or Cowen and
Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus
Department, 1155 Long Island Avenue, Edgewood, NY 11717, by calling
(631) 274-2806, or by fax (631) 254-7140, or by accessing the SEC’s
website,
www.sec.gov.

GigOptix also offers a wide range of digital and mixed-signal ASIC
solutions in a wide range of technology geometries from 28nm to 0.6um,
and enables a complete product life cycle support, from swift
introduction of new product through its ASIC SunriseTM
program to extension of legacy products through its GigOptix
Sunset
RescueTMprogram.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding the Company’s expectations regarding the
completion of the public offering. These statements are based on
management’s current expectations. Such statements contain words such as
"will," and "expect," or the negative thereof or comparable terminology.
Forward-looking statements involve certain risks and uncertainties, and
actual results and the timing of events may differ materially from those
discussed or implied in any such statement. These risks include, but are
not limited to the satisfaction of the conditions of the closing of the
public offering, market conditions and other risks related to the
Company’s business and operations as are discussed under the heading
“Risk Factors” and in other sections of the Company’s filings with the
SEC, and in the Company’s other current and periodic reports filed or
furnished from time to time with the SEC. All forward-looking statements
in this press release are made as of the date hereof, based on
information available to the Company as of the date hereof, and the
Company assumes no obligation to update any forward-looking statement.